Andy is buying a car. He negotiated a 7% on a £6500 car. He will pay the full balance in 12 equal monthly payments. Calculate the amount paid each month.

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  £562.42

Step-by-step explanation:

Payments on a loan of P at rate r for n months can be found from ...

  A = P(r/12)/(1 -(1 +r/12)^-n)

For r = .07 and n = 12, the payments on a £6500 loan will be ...

  A = £6500(.07/12)/(1 -(1 +.07/12)^-12) = £562.42

Andy will pay £562.42 each month.

7. d. 64

8. i. 32

9. c. 125

10. j. none of the above

11. d. 81

12. i. 216

13. e. none of the above

14. g. 240

15. e. none of the above

16. g. 32

17.   e. none of the above

£56

step-by-step explanation: